Heritage Financial Corp /Wa/ - Understand $hfwa stock

$HFWA Market Cap: $901 Million

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Financial Snapshot

Revenue

$230.8M

TTM

Gross Margin

Net Earnings

$37.56M

TTM

Current Assets

Current Liabilities

$166.4M

Q3 2024

Current Ratio

Total Assets

$7.153B

Q3 2024

Total Liabilities

$6.279B

Q3 2024

Book Value

$874.5M

Q3 2024

Cash

$175.6M

Q3 2024

P/E

23.99

Nov 29, 2024 EST

Free Cash Flow

$71.04M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995
Revenue	$284.5M	$227.5M	$212.8M	$214.3M	$217.9M	$199.4M	$147.7M	$138.5M	$135.7M	$121.1M	$71.43M	$69.11M	$74.12M
YoY Change	25.06%	6.87%	-0.69%	-1.62%	9.25%	35.0%	6.64%	2.04%	12.08%	69.55%	3.36%	-6.76%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Revenue	$284.5M	$227.5M	$212.8M	$214.3M	$217.9M	$199.4M	$147.7M	$138.5M	$135.7M	$121.1M	$71.43M	$69.11M	$74.12M
Cost Of Revenue
Gross Profit
Gross Profit Margin

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development		$16.80M	$16.53M	$14.45M	$13.02M	$9.888M	$8.176M	$7.312M	$7.700M	$9.243M	$4.806M	$2.555M	$2.628M
YoY Change		1.61%	14.42%	10.96%	31.69%	20.94%	11.82%	-5.04%	-16.69%	92.32%	88.1%	-2.78%
% of Gross Profit
Depreciation & Amortization	$6.300M	$5.400M	$5.300M	$5.500M	$4.700M	$4.400M	$3.900M	$3.900M	$4.000M	$3.500M	$2.300M	$2.100M	$1.900M	$2.280M	$1.220M	$1.240M	$1.620M	$1.690M	$1.770M	$1.710M	$1.860M	$1.770M	$2.300M	$2.260M	$2.270M	$1.200M	$1.170M	$350.0K	$160.0K
YoY Change	16.67%	1.89%	-3.64%	17.02%	6.82%	12.82%	0.0%	-2.5%	14.29%	52.17%	9.52%	10.53%	-16.67%	86.89%	-1.61%	-23.46%	-4.14%	-4.52%	3.51%	-8.06%	5.08%	-23.04%	1.77%	-0.44%	89.17%	2.56%	234.29%	118.75%
% of Gross Profit
Operating Expenses		$16.80M	$16.53M	$14.45M	$13.02M	$9.888M	$8.176M	$7.312M	$7.700M	$9.243M	$4.806M	$2.555M	$2.628M
YoY Change		1.61%	14.42%	10.96%	31.69%	20.94%	11.82%	-5.04%	-16.69%	92.32%	88.1%	-2.78%
Operating Profit
YoY Change

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Interest Expense	$59.31M	$8.072M	$7.042M	$13.32M	$18.17M	$12.41M	$8.346M	$6.006M	$6.120M	$5.681M	$3.724M	$4.534M	$6.582M
YoY Change	634.76%	14.63%	-47.14%	-26.67%	46.36%	48.73%	38.96%	-1.86%	7.73%	52.55%	-17.87%	-31.12%
% of Operating Profit
Other Income/Expense, Net
YoY Change

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995
Pretax Income	$72.92M	$99.44M	$120.5M	$53.18M	$81.05M	$64.30M	$60.15M	$52.72M	$51.31M	$27.92M	$14.17M	$19.44M	$9.151M	$19.80M	$100.0K	$9.300M	$16.10M	$15.90M	$15.50M	$14.30M	$13.60M	$14.30M	$10.70M	$8.900M	$8.300M	$6.500M	$2.600M	$4.200M	$3.800M
YoY Change	-26.67%	-17.49%	126.6%	-34.38%	26.05%	6.9%	14.09%	2.76%	83.77%	97.06%	-27.12%	112.42%	-53.78%	19700.0%	-98.92%	-42.24%	1.26%	2.58%	8.39%	5.15%	-4.9%	33.64%	20.22%	7.23%	27.69%	150.0%	-38.1%	10.53%
Income Tax	$11.16M	$17.56M	$22.47M	$6.610M	$13.49M	$11.24M	$18.36M	$13.80M	$13.82M	$6.905M	$4.593M	$6.178M	$2.633M	$6.400M	-$500.0K	$3.000M	$5.400M	$5.400M	$5.000M	$4.700M	$4.700M	$4.900M	$3.800M	$2.900M	$3.000M	$2.300M	$0.00	$1.400M	$1.300M
% Of Pretax Income	15.31%	17.66%	18.65%	12.43%	16.64%	17.48%	30.52%	26.18%	26.93%	24.73%	32.42%	31.78%	28.77%	32.32%	-500.0%	32.26%	33.54%	33.96%	32.26%	32.87%	34.56%	34.27%	35.51%	32.58%	36.14%	35.38%	0.0%	33.33%	34.21%
Net Earnings	$61.76M	$81.88M	$98.04M	$46.57M	$67.56M	$53.06M	$41.79M	$38.92M	$37.49M	$21.01M	$9.575M	$13.26M	$6.518M	$13.40M	$600.0K	$6.400M	$10.70M	$10.50M	$10.50M	$9.600M	$8.900M	$9.400M	$7.000M	$6.000M	$5.400M	$4.300M	$2.600M	$2.800M	$2.500M
YoY Change	-24.57%	-16.48%	110.51%	-31.07%	27.33%	26.96%	7.38%	3.81%	78.4%	119.47%	-27.8%	103.45%	-51.36%	2133.33%	-90.63%	-40.19%	1.9%	0.0%	9.38%	7.87%	-5.32%	34.29%	16.67%	11.11%	25.58%	65.38%	-7.14%	12.0%
Net Earnings / Revenue	21.71%	36.0%	46.06%	21.73%	31.01%	26.61%	28.29%	28.1%	27.62%	17.35%	13.41%	19.19%	8.79%
Basic Earnings Per Share	$1.76	$2.33	$2.75	$1.29	$1.84	$1.49	$1.39	$1.30	$1.25	$0.01	$0.01	$0.87	$0.42
Diluted Earnings Per Share	$1.75	$2.309M	$2.73	$1.29	$1.83	$1.49	$1.39	$1.30	$1.25	$0.01	$0.01	$0.87	$0.42	$1.196M	$76.92K	$969.7K	$1.597M	$1.591M	$1.641M	$1.500M	$1.254M	$1.205M	$823.5K	$618.6K	$469.6K	$383.9K	$230.1K	$285.7K	$245.1K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995
Cash & Short-Term Investments
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
Property, Plant & Equipment	$74.90M	$76.93M	$107.0M	$103.5M	$110.9M	$81.10M	$60.30M	$63.90M	$61.90M	$64.90M	$34.30M	$24.80M	$23.00M	$21.80M	$16.40M	$15.70M	$14.80M	$15.70M	$15.80M	$16.90M	$17.50M	$18.00M	$19.00M	$19.50M	$18.90M	$18.10M	$12.20M	$11.20M	$11.20M
YoY Change	-2.64%	-28.1%	3.38%	-6.67%	36.74%	34.49%	-5.63%	3.23%	-4.62%	89.21%	38.31%	7.83%	5.5%	32.93%	4.46%	6.08%	-5.73%	-0.63%	-6.51%	-3.43%	-2.78%	-5.26%	-2.56%	3.17%	4.42%	48.36%	8.93%	0.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets													$11.00M	$4.300M	$9.100M	$4.500M	$2.400M	$2.200M	$1.300M	$800.0K	$400.0K	$0.00
YoY Change													155.81%	-52.75%	102.22%	87.5%	9.09%	69.23%	62.5%	100.0%
Total Long-Term Assets
YoY Change
Total Assets	$7.175B	$6.980B	$7.432B	$6.615B	$5.553B	$5.317B	$4.113B	$3.879B	$3.651B	$3.458B	$1.659B	$1.346B	$1.369B	$1.368B	$1.015B	$946.1M	$886.1M	$852.9M	$751.2M	$697.3M	$640.9M	$594.6M	$609.6M	$573.5M	$511.0M	$475.9M	$242.2M	$222.1M	$222.1M
YoY Change
Accounts Payable
YoY Change
Accrued Expenses	$200.1M	$189.3M	$124.6M	$140.3M	$120.2M	$72.00M	$67.60M	$46.10M	$29.90M	$45.70M	$14.70M	$12.60M	$7.300M	$10.10M	$5.800M	$8.500M	$7.900M	$7.800M	$8.600M	$8.100M	$5.800M	$4.700M	$7.400M	$5.000M	$6.600M	$6.000M	$2.600M	$3.500M	$3.500M
YoY Change	5.69%	51.92%	-11.19%	16.72%	66.94%	6.51%	46.64%	54.18%	-34.57%	210.88%	16.67%	72.6%	-27.72%	74.14%	-31.76%	7.59%	1.28%	-9.3%	6.17%	39.66%	23.4%	-36.49%	48.0%	-24.24%	10.0%	130.77%	-25.71%	0.0%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$46.60M	$50.80M	$35.70M	$20.20M	$31.50M	$31.80M	$22.10M	$23.20M	$32.20M	$29.40M	$16.00M	$23.10M	$19.00M	$10.40M	$0.00
YoY Change	-100.0%	-8.27%	42.3%	76.73%	-35.87%	-0.94%	43.89%	-4.74%	-27.95%	9.52%	83.75%	-30.74%	21.58%	82.69%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$200.1M	$189.3M	$124.6M	$140.3M	$120.2M	$72.00M	$67.60M	$46.10M	$29.90M	$45.70M	$14.70M	$12.60M	$7.300M	$10.10M	$5.800M	$8.500M	$7.900M	$7.800M	$8.600M	$8.100M	$5.800M	$4.700M	$7.400M	$5.000M	$6.600M	$6.000M	$4.400M	$2.600M	$3.500M
YoY Change	5.69%	51.92%	-11.19%	16.72%	66.94%	6.51%	46.64%	54.18%	-34.57%	210.88%	16.67%	72.6%	-27.72%	74.14%	-31.76%	7.59%	1.28%	-9.3%	6.17%	39.66%	23.4%	-36.49%	48.0%	-24.24%	10.0%	36.36%	69.23%	-25.71%
Long-Term Debt	$21.77M	$21.47M	$21.20M	$20.90M	$20.60M	$20.30M	$20.00M	$19.70M	$19.40M	$19.10M	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.000M	$3.400M	$0.00	$0.00	$0.00	$0.00	$0.00	$1.000M	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change	1.36%	1.29%	1.44%	1.46%	1.48%	1.5%	1.52%	1.55%	1.57%							-100.0%	-41.18%						-100.0%
Other Long-Term Liabilities	$0.00
YoY Change
Total Long-Term Liabilities	$21.77M	$21.47M	$21.20M	$20.90M	$20.60M	$20.30M	$20.00M	$19.70M	$19.40M	$19.10M	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.000M	$3.400M	$0.00	$0.00	$0.00	$0.00	$0.00	$1.000M	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change	1.36%	1.29%	1.44%	1.46%	1.48%	1.5%	1.52%	1.55%	1.57%							-100.0%	-41.18%						-100.0%
Total Liabilities	$6.322B	$6.182B	$6.578B	$5.795B	$4.744B	$4.556B	$3.605B	$3.397B	$3.181B	$3.003B	$1.443B	$1.147B	$1.167B	$1.165B	$856.4M	$833.0M	$801.1M	$774.3M	$685.0M	$636.3M	$578.7M	$522.2M	$531.1M	$490.5M	$415.7M	$375.3M	$214.5M	$196.4M	$196.4M
YoY Change	2.26%	-6.02%	13.51%	22.16%	4.12%	26.39%	6.12%	6.8%	5.91%	108.08%	25.88%	-1.71%	0.09%	36.08%	2.81%	3.98%	3.46%	13.04%	7.65%	9.95%	10.82%	-1.68%	8.28%	17.99%	10.76%	74.97%	9.22%	0.0%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Basic Shares Outstanding	35.02M shares	35.10M shares	35.68M shares	36.01M shares	36.76M shares	35.19M shares	29.76M shares	29.68M shares	29.79M shares	25.43M shares	15.48M shares	15.08M shares	15.43M shares
Diluted Shares Outstanding	35.26M shares	35.46M shares	35.97M shares	36.17M shares	36.99M shares	35.37M shares	29.85M shares	29.69M shares	29.81M shares	25.48M shares	15.49M shares	15.09M shares	15.50M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $900.97 Million

About HERITAGE FINANCIAL CORP /WA/

Heritage Financial Corp. is a bank holding company, which engages in the business of planning, directing, and coordinating the business activities of wholly owned subsidiary, Heritage Bank. The company is headquartered in Olympia, Washington and currently employs 749 full-time employees. The firm is primarily engaged in the business of planning, directing, and coordinating the business activities of its wholly owned subsidiary, Heritage Bank (the Bank). Its business consists primarily commercial lending and deposit relationships with small and medium-sized businesses and their owners in its market areas and attracting deposits from the general public. The company also makes real estate construction and land development loans, consumer loans and residential real estate loans for sale or investment purposes on residential properties located primarily in its market. The company offers a full range of products and services to customers for personal and business banking needs designed to attract both short-term and long-term deposits. The company also offers investment advice through a wealth management department that provides objective advice from trusted advisers. The Bank conducts business from its approximately 50 branch offices.

Industry: Savings Institutions, Not Federally Chartered Peers: BROOKLINE BANCORP INC ConnectOne Bancorp, Inc. Origin Bancorp, Inc. Customers Bancorp, Inc. PREMIER FINANCIAL CORP PATHWARD FINANCIAL, INC. NICOLET BANKSHARES INC PNC FINANCIAL SERVICES GROUP, INC.